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Question

Uriah received the following interest payment in 2015:

    Interest of $400 on an overpayment of a prior year's federal income taxes

    Interest of $300 on a personal loan

    Interest of $1,500 on City of Hayward municipal bonds

    Interest of $1,000 on United States savings bonds (Series HH)

What amount should Uriah report as taxable interest income on his 2015 individual income tax return? Please explain calculation.

  • $700
  • $1,700
  • $3,200
  • $2,800

 

 

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